#9Ohio

From the Governor

“JobsOhio has revolutionized the way we create and retain jobs in Ohio, but creating jobs is not enough we must prepare Ohioans to fill jobs that are in demand and in growing industries.” —Gov. Mike DeWine

Booming in the Buckeye State

The Buckeye State continues to see strong growth in several sectors, including finance, manufacturing and logistics. JPMorgan Chase announced it will further expand its presence in the state with an innovation center in Westerville, and Root Insurance will quintuple its workforce by 2021. Dollar Tree and McLane have
also both announced distribution centers here in the past year.

Key Incentives

JobsOhio Growth Fund: Offers capital for expansion projects to companies that have limited access to funding from conventional private sources.

Job Creation Tax Credit: Offers a refundable, performance-based tax credit as a percentage of created payroll for companies creating at least 10 jobs with a minimum annual payroll of $660,000.

Research and Development Center Grant: Helps facilitate the creation of corporate R&D centers in the state that support the development and commercialization of emerging technologies and products.

EDCs

Ohio Economic Development Association: ohioeda.com

JobsOhio: jobsohio.com

The Columbus Region: columbusregion.com

Greater Cleveland Partnership: gcpartnership.com

REDI Cincinnati: redicincinnati.com

Highlighted Program or Initiative

Gov. John Kasich signed into law in August 2018 new legislation to help establish the state as a leading supporter of blockchain-based businesses. The law recognizes the use of blockchain technology to transmit and store electronic records in several industries, ranging from financial services and supply chain management to healthcare. Several initiatives, including Smart City in Columbus, the BlockLand initiative in Cleveland and the 10XTS venture in Cincinnati, are fostering blockchain development and research across the state.

Big Deals

McLane opened in December 2017 a $119 million distribution center in Findlay that will create up to 425 jobs.

JPMorgan Chase announced in September 2018 it will establish an innovation center at The Point in Westerville and create 100 jobs.

Cleveland-Cliffs broke ground in April 2018 on a $700 million hot briquetted iron (HBI) production plant. The project is expected to create 130 jobs.

Dollar Tree announced in May 2018 it will build a $125 million distribution center in Bennington Township and create 400 jobs.

Root Insurance announced in June 2018 an expansion of its office in Columbus and a quintupling of its workforce from 88 to 463 by the end of 2021.

RhinoSystems announced in July 2018 a 65,000-square-foot expansion of its facilities and 117 new jobs in Brooklyn Heights.

C-Suite Testimonials

“Ohio has a sufficient number of higher education institutions that, from community colleges upward, are effectively training their students to meet the growing demand for skilled workers required by technology companies like MCPc. —Peter Anagnostos, Vice President of Marketing, Communications and Community Outreach, MCPc

“Root’s growth since we were founded in 2015 is due in no small part to the strong talent we continue to find in Columbus…. While this expansion will allow us to continue to grow Root’s offering nationally, it will also deepen our roots in Columbus with the resources and space to grow the business with the momentum it deserves.” —Alex Timm, Co-founder and CEO, Root Insurance

CEO CONFIDENCE INDEX

CEO confidence in future business conditions fell 6% in August from July, according to Chief Executive’s most recent polling. At 6.2 out of 10 on our 1-10 scale, confidence is at its lowest level since October 2016.

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